Regulation
Justin Sun calls for support for pro-crypto presidential candidate
Justin Sun, the founder of layer 1 blockchain TRON, has urged the crypto community to support a US presidential candidate who supports the digital asset industry.
Sun’s recent statement follows other prominent industry figures who have previously expressed similar messages.
Influential voices and institutional support for pro-crypto candidates
In a recent article on X (Twitter), Justin Sun highlighted the importance of recognizing the crypto community, businesses and protocols as important stakeholders.
“We must demonstrate to the candidate that the cryptocurrency community, businesses and protocols are important stakeholders whose voices must be heard and whose interests must be protected,” he said. wrote.
Sun’s statement comes after former US President Donald Trump expressed support for the crypto industry, particularly regarding the self-custody of digital assets. Although Sun has not explicitly named any candidates, the crypto community has speculated about possible pro-crypto endorsements.
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Last weekend, Trump made headlines with a bold promise that the future of Bitcoin and crypto would be shaped in the United States and not abroad. He also pledged to never allow the creation of a central bank digital currency (CBDC).
This declaration received widespread support from the crypto community. Prominent figures like Anthony “Pomp” Pompliano, an investor at Pomp Investment, praised Trump’s position.
“It’s surreal. The leading presidential candidate explicitly states that he will make America the leader in Bitcoin and crypto, while supporting the right to self-custody. All the reviews were wrong. The government will not ban it, it adopts it”, Pomp said.
Other influential figures in the crypto industry have already called for support for pro-crypto candidates in the presidential election. BeInCrypto reported that Charles Hoskinson, co-founder of Cardano, highlighted the importance of voting for crypto-friendly candidates during the next elections.
Hoskinson also criticized the president Joe Biden’s strict stance on crypto. He called the idea of regulating crypto under the Securities Act of 1933 an “absurd statement.”
Billionaire investor Mark Cuban, known for his advocacy for the industry, said concerns about the current administration’s approach to crypto. He criticized SEC Chairman Gary Gensler’s strict policies that hinder legitimate crypto projects and harm many companies and entrepreneurs.
Institutional support for pro-crypto candidates is also increasing. Earlier this month, crypto exchange Coinbase was created a new political action committee (PAC) called “Stand With Crypto”.
This PAC aims to support political candidates who financially favor crypto. They plan to use contributions from more than 450,000 members to support a bipartisan group of candidates for the House of Representatives and the Senate.
Indeed, crypto has become a major issue in this year’s elections. A recent Digital Currency Group (DCG) poll found that most voters want policymakers to understand crypto before regulating it. Seventy-five percent of crypto-positive respondents expressed concern that policymakers are stifling innovation through excessive regulation.
Learn more: How does regulation impact crypto marketing? A complete guide
Most voters want policymakers to understand crypto before regulating. Source: DCG
As the presidential race heats up, influential figures are calling for support for those who recognize the potential of the digital assets sector. The crypto community is carefully watching which candidates will champion their cause.
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